Western Digital Corporation $WDC Shares Sold by Everhart Financial Group Inc.

Everhart Financial Group Inc. cut its holdings in Western Digital Corporation (NASDAQ:WDC) by 10.9% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,129 shares of the data storage provider’s stock after selling 1,359 shares during the period. Everhart Financial Group Inc.’s holdings in Western Digital were worth $7,109,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Cardano Risk Management B.V. purchased a new stake in shares of Western Digital in the second quarter valued at about $120,038,000. Everpar Advisors LLC lifted its stake in Western Digital by 1.8% in the 2nd quarter. Everpar Advisors LLC now owns 1,442 shares of the data storage provider’s stock valued at $921,000 after buying an additional 25 shares in the last quarter. Hennion & Walsh Asset Management Inc. acquired a new stake in Western Digital during the 2nd quarter valued at $530,000. Legacy Wealth Management LLC MS purchased a new position in Western Digital during the second quarter worth $1,025,000. Finally, Valeo Financial Advisors LLC raised its holdings in shares of Western Digital by 66.4% in the second quarter. Valeo Financial Advisors LLC now owns 1,787 shares of the data storage provider’s stock worth $1,142,000 after acquiring an additional 713 shares during the last quarter. 92.51% of the stock is currently owned by hedge funds and other institutional investors.

Western Digital Trading Down 3.8%

Western Digital stock opened at $434.30 on Friday. The firm has a market capitalization of $149.69 billion, a P/E ratio of 17.94 and a beta of 2.14. The stock has a fifty day moving average price of $565.61 and a 200 day moving average price of $417.35. Western Digital Corporation has a 52 week low of $73.14 and a 52 week high of $799.87.

Western Digital (NASDAQ:WDC) last issued its quarterly earnings results on Tuesday, August 4th. The data storage provider reported $3.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.31 by $0.25. The firm had revenue of $3.75 billion for the quarter, compared to analyst estimates of $3.70 billion. Western Digital had a return on equity of 48.15% and a net margin of 72.95%.The firm’s quarterly revenue was up 43.8% on a year-over-year basis. During the same period last year, the company earned $1.66 EPS. As a group, equities analysts predict that Western Digital Corporation will post 18.21 EPS for the current year.

Western Digital Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 17th. Stockholders of record on Tuesday, September 8th will be issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 0.1%. The ex-dividend date is Tuesday, September 8th. Western Digital’s dividend payout ratio is presently 3.58%.

Analyst Upgrades and Downgrades

A number of analysts recently commented on WDC shares. UBS Group dropped their price objective on Western Digital from $560.00 to $525.00 and set a “neutral” rating for the company in a research report on Thursday. Summit Insights cut shares of Western Digital from a “buy” rating to a “hold” rating in a research note on Thursday. Fox Advisors cut shares of Western Digital from an “overweight” rating to an “equal weight” rating in a research note on Monday, June 22nd. Rosenblatt Securities lowered their price target on shares of Western Digital from $900.00 to $800.00 and set a “buy” rating for the company in a report on Thursday. Finally, Wells Fargo & Company boosted their price objective on shares of Western Digital from $575.00 to $730.00 and gave the company an “overweight” rating in a research report on Friday, July 10th. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, Western Digital currently has an average rating of “Moderate Buy” and an average target price of $534.56.

Key Stories Impacting Western Digital

Here are the key news stories impacting Western Digital this week:

• Positive Sentiment: Western Digital reported fiscal fourth-quarter revenue of approximately $3.75 billion, up about 44% year over year, and adjusted earnings of $3.56 per share—both ahead of Wall Street expectations. Growth was supported by AI-related cloud storage demand, stronger pricing, and higher-capacity hard-disk drives. Western Digital Q4 Earnings Beat as Revenue Jumps 44% on Cloud Demand
• Positive Sentiment: Management highlighted strong visibility into AI-storage demand, with some customers negotiating capacity commitments through 2031. The company also expects continued margin expansion, while analysts remain broadly constructive; recent price targets include $630 from Baird and a $575 median across 15 analysts. Western Digital Says AI Customers Are Already Negotiating Storage Deals Through 2031
• Neutral Sentiment: The selloff is part of a broader rotation within semiconductor and memory stocks. Investors have been shifting toward AI networking leaders, while comparing Western Digital’s results with stronger results from rival Seagate Technology. Western Digital Slumps Despite Q2 Beat as Analysts Highlight Peer Seagate’s Results
• Neutral Sentiment: Western Digital declared a quarterly dividend of $0.15 per share, payable September 17 to shareholders of record September 8. The dividend provides a modest shareholder return but is unlikely to drive the near-term trading reaction.
• Negative Sentiment: Investors viewed fiscal-first-quarter 2027 gross-margin guidance of 55%–56% as insufficiently strong after the stock’s dramatic advance and elevated expectations. Although the outlook implies sequential improvement, it trailed the bar set by Seagate and was interpreted as evidence that the recent margin expansion may be stabilizing. Western Digital Shares Fall as Margin Outlook Tempers Strong Q4 Results
• Negative Sentiment: Profit-taking intensified because Western Digital had already rallied sharply on the AI-storage theme. The strong earnings beat therefore failed to exceed the market’s unusually high expectations, prompting a valuation reset and technical concerns around support levels. Sandisk, Western Digital Drag on Chip Stocks as Lofty Expectations Eclipse Strong Earnings
• Negative Sentiment: Reported insider activity has been heavily tilted toward selling, with 129 sales and no purchases over the past six months. While such transactions may reflect diversification or compensation, the lack of insider buying adds to near-term investor caution.

Insider Buying and Selling

In related news, insider Vidyadhara K. Gubbi sold 2,475 shares of the company’s stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $556.24, for a total transaction of $1,376,694.00. Following the completion of the transaction, the insider owned 85,154 shares of the company’s stock, valued at approximately $47,366,060.96. This represents a 2.82% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Bruce E. Kiddoo sold 750 shares of the stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $528.52, for a total transaction of $396,390.00. Following the transaction, the director directly owned 3,903 shares in the company, valued at approximately $2,062,813.56. This represents a 16.12% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 5,093 shares of company stock valued at $2,751,337. Insiders own 0.18% of the company’s stock.

About Western Digital

Western Digital Corporation is a global data storage company that designs, manufactures and sells a broad range of storage devices and systems for personal, enterprise and cloud applications. Headquartered in San Jose, California, the company develops hard disk drives (HDDs), solid-state drives (SSDs), NAND flash components and finished storage products used in PCs, external storage, servers, network-attached storage (NAS) and embedded systems.

Its product portfolio spans consumer and commercial markets, including internal and external HDDs and SSDs, removable flash memory products and storage platforms for data center and enterprise environments.